Tag Archives: Apple

Financial Daily Dose 3.3.2020 | Top Story: Promised Central Bank Action Halts Market Slide (for now)

BY: Michael D. Reif | March 3, 2020

Despite news of additional COVID-19-related deaths and infections in America, central bankers appear to have bought at least one day of peace for US markets, which posted strong gains on a late surge on Monday, breaking a week straight of losses – NYTimes and WSJ and Bloomberg and MarketWatch That said, all remains far from … Continue reading

Financial Daily Dose 2.18.2020 | Top Story: Apple Cuts Revenue Expectations and HSBC Axes Jobs as Coronavirus Infects Business Outlook

BY: Michael D. Reif | February 18, 2020

Apple announced that the coronavirus outbreak that’s brought Chinese manufacturing to a near-standstill and continues to spread around the world will affect its quarterly sales expectations.  The news makes Apple “one of the first companies to publicly disclose the extent of the chain effect from China and the virus on the business world” – NYTimes … Continue reading

Financial Daily Dose 2.12.2020 | Top Story: Big Tech Antitrust Update

BY: Juvian Hernandez | February 12, 2020

Big-Tech/Antitrust Update: the FTC has demanded information from Amazon.com Inc., Apple Inc., Facebook Inc., Microsoft Corp., and Alphabet Inc. regarding acquisitions of small firms over the past 10 years that may have been too small to trigger antitrust review. This analysis of Big Tech’s “kill zones” may lead to future changes in how the FTC … Continue reading

Financial Daily Dose 1.30.2020 | Top Story: Facebook Pays $550 Million to Resolve Privacy Class Action Over Use of Facial Recognition Tech

BY: Michael D. Reif | January 30, 2020

Facebook has agreed to pay $550 million to resolve a class-action lawsuit claiming that Zuck & Co.’s use of facial recognition technology violated Illinois’ biometric privacy law. Though the settlement is little more than “a rounding error for Facebook, which reported that revenue rose 25 percent to $21 billion in the fourth quarter,” it’s still … Continue reading

Financial Daily Dose 1.27.2020 | Top Story: Apple Stock Has Surged Over 2019, Consumers Divided on Future

BY: Juvian Hernandez | January 27, 2020

Apple stock has surged over the past year, but consumers are divided over the stock price’s future. Apple’s software services and hardware products create an identity crisis that impacts the company’s future valuations. – WSJ and Bloomberg Under Armour finds itself behind its competitors as consumers move toward athleisure. – NYT Attorneys general and the Justice Department are … Continue reading

Financial Daily Dose 1.24.2020 | Top Story: OCC Hits Former Wells Fargo Execs With Enforcement Actions Over Sham-account Scandal

BY: Michael D. Reif | January 24, 2020

The OCC announced yesterday that it’s bringing enforcement actions against five former Wells Fargo bank executives as part of their alleged roles in the bank’s sales practices scandal. The agency further revealed that it’s already settled with three additional execs, including former CEO John Stumpf, who will pay $17.5 million and lose access to the … Continue reading

Financial Daily Dose 1.17.2020 | Top Story: Senate Passes USMCA by Wide Margin to Update NAFTA

BY: Michael D. Reif | January 17, 2020

While there’s plenty of other business afoot in D.C. these days, it also happens to have been a pretty big week for trade deals. A day after Phase One with China was inked, the Senate overwhelmingly approved a revised NAFTA—now officially the USMCA—which will get final executive approval next week – NYTimes and WSJ and … Continue reading

Financial Daily Dose 11.15.2019 | Top Story: New Jersey Targets Uber Over “Independent Contractor” Worker Classification

BY: Michael D. Reif | November 15, 2019

Sending a shot across the bow of the gig economy, New Jersey is seeking nearly $650 million from Uber for “years of unpaid employment taxes for its drivers, arguing that the ride-hailing company has misclassified the workers as independent contractors and not as employees.” Uber says it’s challenging the state’s findings, but Jersey’s not alone … Continue reading

Financial Daily Dose 10.1.2019 | Top Story: Credit Suisse COO Resigns in Wake of Corporate Spying Scandal

BY: Michael D. Reif | October 1, 2019

Top Tidjane Thiam ally Pierre-Olivier Bouee, Credit Suisse’s COO, has resigned in the wake of an internal probe finding that he “ordered the surveillance of the bank’s former wealth-management chief, Iqbal Khan, without discussing it with Mr. Thiam or other senior bank officials.” Khan left Credit Suisse to join rival UBS Group today – WSJ … Continue reading

Financial Daily Dose 9.24.2019 | Top Story: UK High Court Rules PM’s Suspension of Parliament Illegal

BY: Michael D. Reif | September 24, 2019

Prorogate this, Boris. In an “unprecedented” ruling, the UK’s supreme court deemed the Prime Minister’s Brexit-driven suspension of Parliament “unlawful, void and of no effect” this morning and called on the body to reconvene “as soon as possible” – Bloomberg and NYTimes and WSJ 178-year-old British travel company Thomas Cook went belly-up yesterday, stranding some … Continue reading